53 CMA management accountants pass out at May 2016 exam

The institute of Certified Management Accountants of Sri Lanka (CMA), the national management accounting body in Sri Lanka incorporated by an Act of Parliament No 23 of 2009, congratulates the success of 53 management accountants passing the May 2016 examinations. 

Wellawatta Nithyakalyani Jewellery receives Presidential Export Awards

NJ Exports, the export wing of Wellawatta Nithyakalyani Jewellery, a pioneer in jewellery trade in Sri Lanka, was recognized under the jewellery sector for the years 2014 and 2015 at the Presidential Export Awards ceremony organised by the Sri Lanka Export Development Board.

Pakistan keen to invest in agriculture, IT and construction sectors in Sri Lanka

Pakistan is keenly interested in investing in Sri Lanka, specially in the sectors of agriculture, Information Technology and construction, Pakistan High Commissioner to Sri Lanka, Retired Major General Syed Shakeel Hussain announced this when he met Finance Minister Ravi Karunanayake at the Finance Ministry this week.

Investment forum to give fresh impetus to war-ravaged North

The Northern Province is slated to receive fresh boost as it is gearing up to kick-off an investment forum coming Monday (22nd August) to showcase its potential and the opportunities it has to offer.  

Sri Lanka should be made a duty free shopping destination to attract more tourists: Pathirage

Sri Lanka should be transformed into a duty free shopping destination to attract more tourists, 

India and Sri Lanka begin talks on ETCA

The New Indian Express: India and Sri Lanka began preliminary official level talks on an Economic and Technical Cooperation Agreement (ETCA) which the two countries hope to sign by year end. 

Tokyo Cement June net up 38% as construction sector revives

Cement manufacturer, Tokyo Cement PLC, saw its June quarter (1Q17) net profit increasing 38 percent year-on-year (yoy) to Rs.643.8 million amid strong top-line gains and better cost 

Laugfs June profit plunges as borrowings weigh

Diversified conglomerate, Laugfs Gas PLC saw its net profit for the June quarter (1Q17) plunging to Rs.25.8 million from Rs.325.5 million a year ago as the borrowings taken to fund the growth during 

Damro plans Singapore listing to partly fund US $ 180 mn Indian expansion

Damro Group, South Asia’s largest furniture manufacturer and Sri Lanka’s number one furniture retail 

Ansell Lanka agrees to rehire most staff fired during 2013 strike

Ansell Lanka, the local subsidiary of international glove and personal protection manufacturer Ansell Limited, has agreed to rehire most of the staff that had been fired in 2013 for going on strike at its 

Softlogic in association with Panasonic designates Mithun Perera Sports Ambassador

Mithun Perera, Sri Lanka’s sole standard-bearer on golf courses around the world, will be supported in his quest for further golfing glory by the Softlogic Group, one of the country’s fastest-growing 

Fitch cuts assessment Lankan banks’ operating environment to ‘b+’ from ‘bb-’

Fitch Ratings has downgraded its assessment of Sri Lankan banks’ operating environment to ‘b+’ from ‘bb-’ and assigned a negative outlook. 

Fine Furniture launches ‘Häcker SMART’ in Sri Lanka

Fine Furniture Sri Lanka, an interior product retailer launched a new range called Häcker SMART 

Singer brings excitement to Jaffna through “Yaal Singer Fiesta”

Singer Sri Lanka PLC is set to bring excitement to the people of Jaffna through “Yaal Singer Fiesta”, 

Unilever continues to reign as country’s most respected multinational

Unilever Sri Lanka was rated as the most respected multinational company in the country yet again 

Sri Lanka signs MoU on ICT cooperation with Huawei

During his visit to Huawei’s headquarters in Shenzhen, Prime Minister Ranil Wickremesinghe and the Ambassador of the Chinese Embassy in Sri Lanka jointly witnessed the signing of a Memorandum of 

Lankan corporates bet high on Maldives despite downturn in tourism

The Sri Lankan companies opening resorts in the Maldives could remain profitable if they focus on the high-end segment, a leading leisure sector executive said, as concerns are being expressed about the business prudence of more Lankan companies into the archipelago. 

Softlogic June quarter net up 22%; VAT hurts healthcare biz

Softlogic Holdings PLC, which has interests into retail, information technology, financial services, healthcare, leisure and automobile, increased its June quarter (1Q17) net profit by 22 percent to Rs.101.8 million or 13 cents a share from a year ago, the interim results showed.

July vehicle registrations dive to lowest in 2016

Sri Lanka’s vehicle registrations in almost all categories except buses and heavy trucks have taken a dive in July, recording the lowest monthly figure for the year, a monthly vehicle registration tracker by a leading Colombo-based stock brokerage showed.

Raigam Salterns proposes Rs.536mn rights issue to acquire related company

Raigam Wayamba Salterns PLC, a salt-based product manufacturer and exporter, said it was planning to raise Rs.536 million through a rights issue to acquire a similar business currently owned by its parent. 

Amana Takaful Life shares debut today

The ordinary voting shares of Amana Takaful Life Limited will be listed on the secondary Diri Savi Board of the Colombo Stock Exchange (CSE) today. The security code given for the share is ATLL-N-0000. The company will be classified under the banks, finance and insurance sectors.  ATLL is the first Sri Lankan company to announce an initial public offer (IPO) post segregation of the country’s insurance industry. The company offered 50 m

Ceylon Chamber calls for corporates’ input on trade liberalisation

As the Sri Lankan government works towards forging a series of free trade agreements (FTAs), the Ceylon Chamber of Commerce (CCC) is calling for companies to submit substantive inputs on trade policy matters so that the private sector can strengthen its representations in the trade negotiators. “The chamber has always been supportive of mutually beneficial trade agreements and has held the view that such agreements need to be forged followi

George Steuart Teas honoured as ‘Highest Value Added Exporter’

George Steuart Teas, one of the country’s foremost exporters of Ceylon Tea who are widely recognized as the ‘Original Tea People’, were honoured as the ‘Highest Value Added Exporter in the Tea Sector’ in the year 2014 at the recently concluded 20th Presidential Export Awards (PEA) ceremony which was held under the auspices of President Maithripala Sirisena.

PIM Alumni installs new director board

The PIM Alumni (PIMA), the professionals association of the prestigious Postgraduate Institute of Management (PIM) affiliated to the University of Sri Jayewardenepura, recently concluded the official installation of the new PIMA board of directors for the year 2016/2017, during a grand ceremony held at Grand Oriental Hotel recently.

Acnes Creamy Wash and Sealing Gel for acne-free flawless skin

The easiest solution for an acne-free flawless skin, Rohto Pharmaceutical Japan’s exclusive acne-care products, ‘Acnes Creamy Wash’ and ‘Acnes Sealing Gel’ were launched in Sri Lanka by Rohto Mentholatum Lanka (Pvt) Ltd recently.

WEDF to tackle key topics of regional and global trade

The 16thedition of the World Export Development Forum (WEDF) will see global business leaders, policy makers and heads of trade discuss issues ranging from transitioning trade environments, transparency and traceability to business strategies and trade policies across the world. 

Masters Hardware Supermarket introduces hardware retailing to Sri Lanka

Going in search of hardware and tools is known to be both time-consuming and taxing for the regular customer. Masters Hardware Supermarket which recently opened its doors has revolutionized the way we shop for hardware and tools making the process easy and hassle free.

CIMA Business Leaders Summit to highlight investing in talent, digital biz models

At the upcoming CIMA Business Leaders Summit on August 23 and 24, discussions on how organisations can breakdown silos for value creation and how companies can adapt in the face of disruption will take centre place.

Sunanda Weerasinghe receives Bronze Award

The chairperson, Sunanda Weerasinghe of Sujan International Pvt Ltd, the vegetarian company dedicated to vegetarianism received the Bronze Award - Large Category at Women Entrepreneur 2015 from Women’s Chamber of Industry and Commerce recently. 

OVIKLO International expands storage capacity

OVIKLO International recently expanded their warehousing chain by another 120,000 Sqft facility.  With this expansion increased entire OVIKLO’s storage capacity over 500,000 square feet in both covered and open yards. This increase in warehouse capacity will enable OVIKLO to further enhance its ability to add value to customers’ stored products. The additional space provides more storage for all industry verticals as well as incr